A decline in the exchange supply of ether contributed to its bounce above $1800

Ether (ETH) is strengthening amid a reduction in its exchange supply. Altcoin was able to quickly restore its position after falling below $1800.
On the night of Monday, May 29, ETH appreciated to $1852. Investors are taking ether offline from the fall of 2022.
After the Shanghai-Shapella fork in April, centralized exchanges recorded a massive cryptocurrency outflow, according to a report by Glassnode. Approximately 17.8 million ETH are now listed on trading floors, the lowest level since July 2016.

Leave a Comment